January 17, 2019

Abraaj founder ordered to pay litigation costs in Cayman Islands court

By Pedro Goncalves From International Investment A Cayman judge has ordered the founder of troubled equity firm Abraaj to pay for the costs of a recent hearing in the jurisdiction regarding the company’s restructure attempts out of his own pocket. At the hearing, Abraaj’s largest creditor, Kuwait’s Public Institution for Social Security  argued that Dubai-based company  […]

On International Mentoring Day, Big Brothers Big Sisters celebrates their longest standing match of 10 years

16TH January 2019 George Town – Tomorrow, Big Brothers Big Sisters (BBBS) of the Cayman Islands is celebrating one of its successes; Cayman’s longest standing match- one that is 10 years old and counting, between Gerardo Ochoa-Vargas and Alex Richardson. Matched in March 2009 Gerado and Alex, initially found they lacked shared interests; fast forward […]

Cayman Islands NHDT breaks ground in East End

From GIS WHO:                                      The Housing Ministry and the National Housing Development Trust WHAT:                                   Groundbreaking for the Affordable Housing Initiative in East End. WHEN:                                   Thursday, 16 January 2019, 10.00 a.m. WHERE:                                 Affordable Housing site off John McLean Drive, behind East End Primary School. PARTICIPANTS:                   Housing Minister Dwayne Seymour, NHDT Chair George Powell, NHDT Board Members, NHDT General Manager Julio […]

Building a more resilient Caribbean

By Richard Branson From Virgin Really excited that BMR Energy has added a solar plant in the Cayman Islands to its portfolio of clean energy projects in the Caribbean and Latin America. I strongly believe we can build a greener, stronger and more resilient Caribbean that’s powered by clean, sustainable energy and accelerated by sound public and private […]

Goldman boss apologises for 1MDB scandal

From BBC Goldman Sachs new boss has apologised to Malaysia for the role an ex-partner played in the corruption scandal at one of the country’s wealth funds. However, chief executive David Solomon also distanced the bank from the scheme, which saw billions embezzled from the state development fund, 1MDB. He said Goldman, which had helped […]

CariCRIS upgrades Barbados

Caribbean Information and Credit Rating Services Limited (CariCRIS) has upgraded the Regional Scale Local Currency rating of the Government of Barbados (GOB) from CariD (Default) to CariBB, with a stable outlook. We however maintain the Regional Scale Foreign Currency rating of CariD (Default) on the country’s foreign currency denominated debt. The Local Currency Regional Scale rating indicates that the level of creditworthiness […]

More coal-fired power plants were retired during Trump’s first 2 years than all of Obama’s first term, report says

By Scott DiSavino, Reuters From Business Insider More US coal-fired power plants were shut in President Donald Trump’s first two years than were retired in the whole of Barack Obama’s first term, despite the Republican’s efforts to prop up the industry to keep a campaign promise to coal-mining states. In total, more than 23,400 megawatts (MW) […]

Caribbean reps and WTO discuss trade and environment issue

From MyVueNews Basseterre, St. Kitts, 15th January, 2019 (MyVueNews.com) – Participants from around the Caribbean are in St. Kitts to discuss the relationship between trade and the environment, in a program facilitated by the World Trade Organisation (WTO). The forum is a collaboration between the WTO and the St. Kitts-Nevis Ministry of International Trade. The theme, […]

Sandals pulls out of Tobago

By Sampson Nanton From Guardian tt The man­age­ment of San­dals Re­sorts In­ter­na­tion­al has an­nounced that they are pulling of To­ba­go. The an­nounce­ment was made at a news con­fer­ence in Port-of-Spain fol­low­ing a meet­ing with Prime Min­is­ter Dr Kei­th Row­ley and oth­er key min­is­ters at the Of­fice of the Prime Min­is­ter. Min­is­ter in the Of­fice of […]

iNews Briefs & Community Events

Cayman Islands PAC Meetings in January 2019 PAC meetings for the public that take place this month, starting this week, at the LA. Meeting dates and times are given below: · 16 January 2019 at 1:00 pm(Follow Up On Past PAC Recommendations – October 2018 report) · 17 January 2019 at 10:00 am (Follow Up […]